market research process

Question 1

what is market research

Answer 1

those who provide goods and services make sure they stay in the needs and wants of the consumer

Question 2

what are some ways research is done?

Answer 2

• primary data collection
• secondary data collection
• data analysis

Question 3

what is primary data?

Answer 3

an original source of data, found through surveys, questionnaires and interviews
- always up to date

Question 4

what is secondary data?

Answer 4

data that has already been collected by another organisation either internal or external data

Question 5

what is internal data

Answer 5

reports from areas like operations, peoples, complaints, reports

Question 6

what is external data

Answer 6

published in journals or government documents

Question 7

what is the purpose of data analysis

Answer 7

to determine if there is a market for a particular product and service - helps enable the overall marketing strategy